WEX – New Zealand’s Bitcoin Cryptocurrency Exchange Trading?


WEX is a new platform that seems to have been launched by BTC-e, although the company denies it received any financial investment from BTC-e. The platform is for the exchange of bitcoin. The release of the company was done via social media, specifically over twitter. The new platform is the result of a one month effort from the makers of the bitcoin exchange. It is an attempt to return the services to the customers following the raid and fining by US authorities in June. Although the new website denies any involvement with BTC-e, the new platform for exchanging of cryptocurrency pretty much mirrors the previous one in functionality, design, and the trading options it renders to the customers.

The company also denies any relation to the former company although it has inherited all the customers from the previous website. The website ran on a test mode for one week to enable the users of the website to give feedback and also to obtain bonuses. This will help to enhance and build customer relations.

Why Is Wex Needed

In the current world the trend for bitcoin has really picked up the pace. The bitcoin and other cryptocurrencies are termed as the currency of the future. Because of its decentralized nature, the bitcoins are the cheapest and most convenient method of transferring funds. There has been an ongoing debate as to whether you can actually use bitcoins in the place of actual money or credit cards to purchase such mundane things as a cup of coffee.

The answer is yes, although the implementation of the same is yet to be realized in most countries or even states in the US alone. By creating a platform where you can actually buy and sell bitcoin just like you would trade fiat currency will have the effect of popularizing the bitcoin among the population. This will result in an increased rate of usage of the bitcoin to the extent it will reach commonplace use. In a very short while, the use of bitcoin will spread to the common industry as a result of making it an item of trade.

Wex Benefits

The company offers the users a vast array of benefits. Because the company is still in the initial stages, the first users of the site will receive bonuses of the bitcoins or other cryptocurrencies. These bonuses will be based on the rate of transfer of funds for crypto-tokens.

The company is also set to operate on some fairly strict laws. The company is set to abide by the anti-money laundering laws. It will also indoctrinate the know-your-customer laws. All these are in place to make sure the value of your cryptocurrency is kept safe. The measures are also put in place to make sure that your account is secure from hacking. It is a new platform with a lot of promise and currently the only way to go for them is up.

The company is set to restructure all its assets. It will also undergo a serious auditing to confirm that the new platform is in full compliance with the law. All this is done to give their customers the security that their money is as safe as can be.

Wex Downsides

There was a lot of negative publicity surrounding the closure of the former website. It is for this reason that the company is alienating itself from it as much as possible. However, investors are weary in a trade platform that might be raided and shut down by officials.

Wex Conclusion

The new website gives a lot of promise to the users. It also promises to be compliant with the law so that it is not subject to the drama of the previous one. Whether or not to invest is your prerogative.

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